- Toll Free: +1-800-792-5285
- (UK): +44-845-528-1300
- Int'l: +1-503-894-6022
- Help@alliedmarketresearch.com
Cart
|
MA_173267
|
Pages: 195
|
Aug 2017 | 2577 Views
|
|
|
|
Author's :
Yash Doshi
|
Tables: 100
|
Charts: 31
|
Formats*: |
|
Global Bio-PLA Films Market was valued at $354 million in 2016, and is anticipated to reach $910 million by 2023, growing at a CAGR of 14.5% from 2017 to 2023. The use of bio-based materials as food packaging materials is on a continuous rise, owing to their advantages over fossil-based plastics, such as use of renewable resources in their production and, in many cases, the biodegradability and/or compostability of the finished product, which offers an alternative to disposal in landfills. The most common bio-based plastic synthesized from bio-based monomer is polylactic acid.
PLA is an aliphatic polyester produced by the polymerization of lactic acid (2-hydroxypropionic acid). Lactic acid can be produced synthetically from hydrogen cyanide and acetaldehyde, or naturally by anaerobic fermentation by bacteria or certain fungi of carbon substrates, either pure (e.g., glucose and sucrose) or impure (e.g., starch). Bio-PLA films can hold creases or twists, a property normally lacking in plastic films. The physical properties of PLA make it an ideal candidate for replacement of fossil-based plastics in several application areas of low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET).
Positive growth indicators in the food & beverage industry and increase in demand for food packaging for prolonged preservation drive the bio-PLA films market. Moreover, rapid adoption of these films as a synthetic plastic in agricultural applications, such as cultivation of soft fruits and vegetables, has reduced harsh environmental impacts, leading to market growth. However, high product cost in comparison with synthetic and semi-synthetic films restrains the growth. In addition, relatively low vapor barrier and mechanical properties of the product may hamper industry growth in the future.
The report emphasizes on the different type of technologies used in the market, which include sol-gel, atomic layer deposition (ALD), and multilayer. Based on end user, the market is classified into food & beverages, home & personal care, pharmaceuticals, agriculture, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights various factors that impact the market growth, such as key drivers, restraints, growth opportunities, and the role of key players. It presents the quantitative data, in terms of both value and volume, which are obtained from secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others.
Global Bio-PLA Films Market Segmentation
Get more information on this report : Request Sample Pages
Technological advancements, such as multilayer films and atomic layer deposition (ALD), have led to the introduction of novel bio-PLA films with key characteristics. The aforementioned trend, increase in consumer awareness towards bio-based product usage, and government initiative supporting usage of these products are expected to present numerous opportunities for market expansion.
Bio-PLA Films Market Share, by Geography, 2016 (%)
Get more information on this report : Request Sample Pages
Top Investment Pockets
Pharmaceuticals and food & beverages segments are lucrative sectors for investment in the market, followed by the agriculture segment. In pharmaceuticals, the nontoxic and non-carcinogenic effects of polylactic acid on the human body make it an acceptable candidate for biopharmaceuticals application such as in sutures, clips, and drug delivery systems (DDS). In food & beverages, it is used in packaging systems such as form-fill-seal yogurt containers or coffee capsules that desire performance attributes such as compostability.
Top Investment Pocket, by End User
Get more information on this report : Request Sample Pages
Asia-Pacific bio-PLA Films Market Analysis
In 2016, Europe dominated the global bio PLA films market, in terms of both value and volume. However, Asia-Pacific is expected to witness the highest growth rate from 2017 to 2023, owing to the increase in product demand for food packaging and medical applications. In addition, surge in consumer awareness and government support towards use of environment-friendly products boost the growth, particularly in countries such as China, India, Japan, and Thailand.
Canada Bio-PLA Films Market Growth, 2016-2023 ($Million)
Get more information on this report : Request Sample Pages
The key players profiled in the report are NatureWorks LLC, Futerro, Tale & Lyle, Total Corbion PLA, Hiusan Biosciences, Toray Industries, Inc., Taghleef Industries, Amcor Ltd. Toyobo, and Avery Dennison Corporation.
The other major players (not profiled in report) in the market include Jiangsu Jiulding, Teijin, Synbra Technology B.V., Zhejiang Hisun Group Co., Ltd., Innovia Films, Biobag International, Mondi Group, and Plastic Union.
Key Benefits:
PLA is widely used in many day-to-day applications, such as food packing (including food trays, tableware such as plates and cutlery, water bottles, candy wraps, and cups). Although PLA has one of the highest heat resistances and mechanical strengths of all bio-based polymers, it is still not suitable for use in electronic devices and other engineering applications. In 2016, the food & beverages segment accounted for one-third share of the global market, and is expected to witness a healthy growth rate, registering a CAGR of 15.3% during the forecast period.
Based on technology, the atomic layer deposition (ALD) and multilayer segments are expected to witness the highest growth rates, registering CAGRs of 15.0% and 14.6%, respectively, during the forecast period. In 2016, the multilayer segment accounted for a major share, and the trend is expected to continue throughout the forecast period. Multilayer films are widely preferred in the industry owing to its ability to serve commercial applications in dry snacks, nuts, spices, and dried fruits packaging.
Asia-Pacific is the fastest growing market for bio-PLA films, in terms of both revenue and volume. China dominated the Asia-Pacific bio-PLA films market in 2016, in terms of both value and volume. The region is expected to witness excellent growth on account of rapid growth in the food & beverage and pharmaceuticals industries and a rise in consumer inclination towards environmental-friendly products. Furthermore, supportive government policies in countries, such as China and India, and heavy inflow of foreign investments are anticipated to boost the market in the near future.
Enterprise
License/PDF
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high level data integrity, accurate analysis and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
